Liberty All-Star(R) Equity Fund April 2015 Update
BOSTON, MA--(Marketwired - May 15, 2015) - Below is the April 2015 Monthly Update for the Liberty All-Star(R) Equity Fund. (NYSE: USA)
Liberty All-Star Equity Fund Monthly Update
Ticker: USA April, 2015
Investment Approach
Fund Style: Large-Cap Core
Fund Strategy: Combines three value-style and two
growth-style
investment managers. Those selected demonstrate a
consistent
investment philosophy, decision making process, continuity
of key
people and above-average long-term results compared
to managers
with similar styles.
Investment Managers:
Value Managers:
Matrix Asset Advisors, Inc.
Pzena Investment Management, LLC
Schneider Capital Management Corporation
Growth Managers:
Cornerstone Capital Management LLC
TCW Investment Management Company
Top 20 Holdings at Month-End
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(29.3% of equity portfolio)
(Rank from previous month)
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1 JPMorgan Chase & Co. (2) 2.3%
2 State Street Corp. (1) 2.3%
3 Salesforce.com, Inc. (3) 2.1%
4 Citigroup, Inc. (4) 1.7%
5 Google, Inc., Class A & C (5) 1.6%
6 Microsoft Corp. (13) 1.5%
7 Facebook, Inc., Class A (6) 1.5%
8 SunTrust Banks, Inc. (7) 1.5%
9 Visa, Inc., Class A (
1.3%
10 Apple, Inc. (15 1.3%
11 Amazon.com, Inc. (15) 1.3%
12 MetLife, Inc. (10) 1.3%
13 Hewlett-Packard Co. (12) 1.3%
14 Marriott International, Inc., Class A (11) 1.2%
15 PulteGroup, Inc. (3 1.2%
16 Weatherford International Ltd. (21) 1.2%
17 The Walt Disney Co. (34) 1.2%
18 American International Group, Inc. (14) 1.2%
19 QUALCOMM, Inc. (16) 1.2%
20 Chesapeake Energy Corp. (22) 1.1%
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Holdings are subject to change.
Monthly Performance
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Performance NAV Market Price Discount
--------------------------------------- ------- --------------- ---------
Beginning of month value $6.72 $5.84 13.1%
Distributions (Ex-Date April 29) $0.14 $0.14
End of month value $6.70 $5.84 12.8%
Performance for month 2.09% 2.40%
Performance year-to-date 1.99% 1.68%
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The net asset value (NAV) of a closed-end fund is
the market value of the underlying investments (i.e.,
stocks and bonds) in the Fund's portfolio, minus liabilities,
divided by the total number of Fund shares outstanding.
However, the Fund also has a market price; the value
at which it trades on an exchange. If the market price
is above the NAV the Fund is trading at a premium.
If the market price is below the NAV the Fund is trading
at a discount.
Returns for the Fund are total returns, which includes
dividends, and are net of management fees and other
Fund Expenses. The Fund's performance is calculated
assuming that a shareholder reinvested all distributions.
Past performance cannot predict future investment
results.
Performance will fluctuate with changes in market
conditions. Current performance may be lower or higher
than the performance data shown. Performance information
shown does not reflect the deduction of taxes that
shareholders would pay on Fund distributions or the
sale of Fund shares. Shareholders must be willing
to tolerate significant fluctuations in the value
of their investment. An investment in the Fund involves
risk, including loss of principal.
Sources of distributions to shareholders may include
ordinary dividends, long-term capital gains and return
of capital. The actual amounts and sources of the
amounts for tax reporting purposes will depend upon
the Fund's investment experience during the remainder
of its fiscal year and may be subject to changes based
on tax regulations. If a distribution includes anything
other than net investment income, the fund provides
a Section 19(a) notice of the best estimate of its
distribution sources at that time, available at www.all-starfunds.com.
These estimates may not match the final tax characterization
(for the full year's distributions) contained in shareholders'
1099-DIV forms after the end of the year.
Net Assets at Month-End ($millions)
-------------------------------------------------------------
Total $1,205.2
Equities $1,200.5
Percent Invested 99.6%
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Sector Breakdown (% of equity portfolio)*
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Financials 28.1%
Information Technology 21.7%
Consumer Discretionary 16.9%
Health Care 11.5%
Energy 11.2%
Consumer Staples 5.1%
Industrials 4.7%
Materials 0.8%
Total Market Value 100.0%
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*Based on Standard & Poor's and MSCI Barra Global
Industry Classification Standard (GICS).
New Holdings Holdings Liquidated
----------------------- ------------------------
The Coca-Cola Company Comcast Corp., Class A
Wal-Mart Stores, Inc.
Contact Information:
Liberty All-Star Equity Fund
1-800-241-1850
www.all-starfunds.com
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